St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-01-23
The Carnival Breaks Into the Real Estate
Transfers in a Very Perceptible
Manner,
And Cuts the Aggregate Transactions
Down Prom Three Quarters to
Half Million.
is in a Very Healthy State AND
Business is Active.
Business Property Constantly Called
for, While Prices Are Very
Firm and Steady.

rupted the great volume OF real estate
transactions, or, at least they have made
something OF vacation for a few days. The
real estate board on Wednesday morning
determined. by an almost unanimous vote,
to suspend the daily call board for one
week, or until Wednesday morning next.
This action was taken because so many of
the members are on committees, or con
nected in some capacity with the carnival
clubs Or celebrations. The regular daily
meetings will probably not be renewed I'M
til the height of the carnival fun has passed
The full during this week is by no means a
suspension Of activity. but on the contrary,
inquiries are made daily in all the Offices
for good business property. The difficulty
now is to find any persons who will sell
their property at any figure. The rule for
thirty days past has been to withdraw
anything and everything from the market
Many owners decline to name any price at
all, and they invariably seem to think that
very high prices will be obtained before
midsummer. An agent gets piece of
property to-day subject to change without
notice, and by the time he gets customer
to take the property at the price named the
owner advances the figures he has placed
upon it quite decidedly. There are scarcely
half dozen lots now for sale in the area
bounded by Third, Wabasha, jackson and
Seventh, and when for sale at all, they are
held at from S100 to 81, 900 per front foot.
Everything east of Jackson to and includ-
ing both sides of Broadway has gone I'D to
about $500 per front foot. East of Broad
way and south of Seventh street prices are
lower than in any other district
so favorabiy situated from 5000 to
$3.50 per front foot being about
the lowest figures. A good number of buy
erS are in the market now and considerable
property in Kittsons addition is being con-
tracted for to parties who seem to desire all
OF it that can be secured at present prices
The property from WacOuta street eastward
to Pine is all vacant or covered, as a rule,
with insignificant buildings. 1t is the next
field to be occupied. because it is closer to
the railroads and nearer the
WHOLESALE DISTRICT
than any other unoccuped territory. It is
so located as to be intrinsically more val
liable than property on Minnesota and
Cedar at the same distance from Third
street, but while the latter sells rapidly at
800 to $500 per front foot the former is
offered at $500 and 5000 per front foot,
of the far-Seeing wholesale merchants
and business men are beginning to compre-
bend the situation and are buying up all
that is offered at low figure. One quite
large transaction has recently been made in
the vic nifty of Sixth and Rosabel on Broad
way. The purchaser for some reason does
not wish it to be known until the object in
view, whatever it may be. has been accom-
plished. During the week great demand
has developed for property in the vicinity of
Newport and there has been a great effort
to secure broad acres in that vicinity. The
Burlington 81 Northern and the Milwaukee
& st. Paul roads both come through New
port. and it is probable that some rumored
project in connection with one or both of
these roads has started up the
inquiry and activity in that direc-
ton. The inquiries for property between
the cities and for acres in Reserve town has
been good. The agitation of q state park
about Minnehaha Falls is likely to cut some
thing of figure in the near future. A
joint committee from Minneapolis and st.
Paul has the matter under advisement,
and when put into proper shape it is likely
to command an almost universal and favor
able public sentiment. as there is a general
feeling that ''histOric Minnehaha'' should,
somehow, be preserved in its natural beauty
and be forever kept as a breathing place for
wearied humanity. The banks of the Miss
isSippi river from the state university to
below Fort Smelling possess features of rare
natural beauty, not surpassed in the world.
Prof. Cleveland WHO has expressed himself
in public many times Oh this subject, thinks
that these shores ought now to be secured
and be kept forever for boulevard OF park
purposes. New York city OF any other
great metropolis would spend
MILLIONS ON MILLIONS
to secure that which nature has placed at
our doors almost free of cost. II only needs
little enterprise for the two cities to get
the control of all this frontage now and
keep 1t as part of their park and boulevard
system. There is very general feeling
that something should be done immediately
to secure and preserve these points of great
natural beauty, which surround the city III
every direction. During the carnival a
great many wealthy citizens from nearly
every part of the country have visited St.
Paul, and there is universal expression
of establishment at the great growth
and development of the city. The
real estate offices all report a very
large correspondence. from non-residents
who desire to invest. The weeks follow
ing the close of the carnival until spring are
not likely to be idle ones, and it looks as
though trade in realty during February
would be more active than has ever been
the case in winter month. Last February
was phenomenal in that respect but active
dealing has continued this year steadily
through the winter and has been daily in
creasing in volume. Last year transactions
were mainly in West st. Paul down around
the stock yards out in Reserve town and
in suburban acres. This year it is much
more distinctively in we'll located business
property.